Ok,
What I want to estimate is the effect of remittances (R) on labor supply -
number of hours worked (L). I believe that R is endogenous and is to be
instrumented. My instrument is the forecasted migration (M). That is why I
think that not correcting for the standard errors could be a problem.
Thanks for your feedback.
Evans

Partly yes, because Y in my previous mail is a vector that includes M
(forecasted).